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Portugal’s politicians have been urged by European leaders to unite and agree
on a programme of austerity measures by mid-May in exchange for an €80
billion (£70 billion) rescue package.

Speaking from a meeting in Budapest of Europe’s finance ministers, the
European Commissioner for Economic and Monetary Affairs, Olli Rehn said: “It
is essential in Portugal to reach a cross-party agreement ensuring that such
a programme can be adopted in May.”

Portugal is currently governed by a caretaker administration after Socialist
Prime Minister José Sócrates stepped down last month when the opposition
Social Democrats rejected a new austerity plan. The